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Market structure by Mind Map: Market structure

1. perfect competition

1.1. large number of independent sellers and buyers

1.2. identical products

1.3. free to enter into, conduct, or get out of business

1.3.1. large number

1.4. no influence over price

2. imperfect competition

2.1. monopolistic competition

2.1.1. similar but not identical products

2.1.2. many firms

2.1.3. product differentiation

2.1.4. nonprice competition advertising giveaways other promotions

2.1.5. limited influence over price

2.2. monopoly

2.2.1. only one seller

2.2.2. unlimited influence over price

2.2.3. impossible to entry

2.3. oligopoly

2.3.1. few large sellers

2.3.2. firms act together

2.3.3. barriers to entry

2.3.4. products-brands

2.3.5. a lot of advertising

2.3.6. limited influence over price